Adelaide’s Rental Market Crisis – Record Low Vacancy Rates

For Immediate Release

Summary:
  • Adelaide has the lowest vacancy of rentals in the nation with a rate of 0.2%.
  • This is a problem Australia wide with a national vacancy rate hitting a record low of 1%.
  • Australian’s looking to rent have been left with no choice but to sleep in caravans and couch surf, due to the intense competitiveness of the rental market.
  • We’re encouraging investors and first home buyers to build more new rental properties to help fill the demand and be part of the solution to Australia’s rental market crisis.

Since the pandemic, Adelaide’s rental market has been highly competitive. In fact, new research has found, that Adelaide’s rental market is the worst in Australia! Australia is currently facing a rental market crisis. With domestic and international borders reopening. The rental market has record high demand, making it extremely difficult for Australians to secure a property nation-wide.

“Since the borders have opened domestically and internationally, the rental market has only become more competitive. We’ve seen record high numbers attending inspections, as well as record number of applications offering much higher than the advertised price”, says Nidal Rasheed, Managing Director of Silvertail Property Group.  

News.com.au reported an article about an Adelaide family who were left homeless after being rejected for 227 properties over a 16-month period! Many Australians like this family have been left unsuccessful despite applying for numerous properties and have been left with no choice but to sleep in caravans or couch surf.

Research from Domain found that Adelaide has the lowest vacancy rate ever to be recorded across any capital city since 2017! Along with the national rate hitting a record low of 1%. The rental crisis is a problem Australia wide, as demand for rentals are at a record high whilst availability is the opposite.

“As part of the solution, we’re encouraging investors to build new rental properties to help provide Australians with more choices. Due to the high demand, we’ve been able to secure tenants quickly. Leaving little to no vacancy rate for landlords”, says Mr Rasheed.

Investors and first home buyers are encouraged to assess their equity and borrowing capacity to invest in a rental property. In this current market investing in property is not only a good investment, but also a big way to be part of the solution, to provide Australians with a place to live.

About Silvertail Property Group

Silvertail Property Group is dedicated to educating and assisting everyday Australians to achieve long term wealth through smart property investing. Since 2014, they have assisted clients to make informed decisions, working towards their overall goal of creating a positive ripple effect in the world. Silvertail prides itself on adding value to every client, working with integrity and honestly, and inspiring growth to build wealth, and ultimately enable freedom.

For more information, visit www.silvertailpropertygroup.com.au or follow Silvertail Property Group on Facebook, Instagram, and LinkedIn.

Leave a Reply

Your email address will not be published.

Print